Insider Selling: Navan (NASDAQ:NAVN) Major Shareholder Sells 398,546 Shares

Navan, Inc. (NASDAQ:NAVN) major shareholder Lightspeed Venture Partners Se sold 398,546 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $19.13, for a total value of $7,624,184.98. Following the sale, the insider directly owned 2,358,312 shares of the company’s stock, valued at approximately $45,114,508.56. This represents a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Lightspeed Venture Partners Se also recently made the following trade(s):

• On Wednesday, June 17th, Lightspeed Venture Partners Se sold 77,323 shares of Navan stock. The shares were sold at an average price of $19.06, for a total value of $1,473,776.38.
• On Monday, June 15th, Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock. The stock was sold at an average price of $20.37, for a total transaction of $20,456,185.47.
• On Friday, June 12th, Lightspeed Venture Partners Se sold 1,019,900 shares of Navan stock. The stock was sold at an average price of $20.00, for a total transaction of $20,398,000.00.

Navan Stock Performance

NAVN traded up $0.92 during trading on Thursday, reaching $21.91. The company’s stock had a trading volume of 6,338,613 shares, compared to its average volume of 3,031,106. Navan, Inc. has a 52-week low of $8.10 and a 52-week high of $24.50. The company’s fifty day moving average price is $18.06 and its 200-day moving average price is $14.66. The company has a market capitalization of $5.49 billion and a price-to-earnings ratio of -10.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31.

Navan (NASDAQ:NAVN) last posted its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.20. The business had revenue of $220.23 million during the quarter. The firm’s revenue was up 39.8% compared to the same quarter last year. On average, equities analysts forecast that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Royal Bank of Canada purchased a new stake in Navan in the 4th quarter valued at approximately $35,000. California State Teachers Retirement System purchased a new position in Navan during the fourth quarter worth $39,000. Russell Investments Group Ltd. acquired a new position in shares of Navan in the fourth quarter worth $51,000. Sunbelt Securities Inc. acquired a new position in shares of Navan in the first quarter worth $71,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Navan in the fourth quarter valued at $101,000.

Wall Street Analyst Weigh In

NAVN has been the topic of a number of recent analyst reports. TD Cowen upped their price target on shares of Navan from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. The Goldman Sachs Group raised shares of Navan from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Weiss Ratings raised shares of Navan from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, June 12th. Oppenheimer set a $30.00 price target on shares of Navan in a research report on Thursday, June 11th. Finally, Citigroup reissued an “outperform” rating on shares of Navan in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.64.

About Navan

Navan (NASDAQ: NAVN) is a technology company that provides an integrated platform for corporate travel, expense management and business payments. The company combines online travel booking and itinerary management with expense reporting, corporate card services and payment processing to help organizations consolidate travel and T&E (travel and expense) workflows into a single system. Navan emphasizes a mobile-first user experience, automated reconciliation and policy controls to simplify administrative processes for finance and travel teams while improving the experience for travelers.

Navan’s offerings typically include online and mobile travel booking, real-time traveler support and duty-of-care features, automated expense capture and reporting, corporate card and virtual card issuance, and tools for payments and invoice management.